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Home›Earnings›Analyst Ratings›SK hynix authorizes $28.6B buyback after tech selloff

SK hynix authorizes $28.6B buyback after tech selloff

The company said the plan is supported by net cash of $49.7 billion and comes alongside higher Wall Street price targets.

Reported · Written up by our desk · Analyst Ratings

SK hynix has approved a record share buyback and cancellation program worth $28.6 billion after a broad tech selloff, MarketBeat Ratings reports.

The authorization is backed by what the company described as a strong liquidity position, including a $49.7 billion net cash position.

MarketBeat Ratings also links the move to rising Wall Street price targets for SK hynix following the selloff.

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Sources

MarketBeat RatingsSK hynix Triggers $28B Defense Against Tech Selloff

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